Pretty weird that.
It was the GBP that was rising not the USD that was falling. Check out the EURUSD, which usual follows the same trend as the GBPUSD at this time in the morning.
Anyone know of news that would cause a surge in the GBP this morning?
Mike
Pretty weird that.
It was the GBP that was rising not the USD that was falling. Check out the EURUSD, which usual follows the same trend as the GBPUSD at this time in the morning.
Anyone know of news that would cause a surge in the GBP this morning?
Mike
wiseambitions hello,
You mean QQE from Fx Rebellion?
Fx Rebellion is my safeguard. Every time the market goes oposite to FMT I take signals from Fx Rebellion 15min or 30min chart and I get BE or take a little profit (3 or 5 pips).
I think FMT is a great system but in those cases when FMT goes to bad, my secondary system make me get a win from a lose.
It also really depends what risk you are using in the first place.
I don't understand why some of you didn't trade.
I do it manually.
The x was above y and below z and c was above t so I went long and had my 40 pips.
I don't understand why some of you didn't trade.
I do it manually.
The Momentum was above 100 and below 100.8 and CCI was above 0 so I went long and had my 40 pips.
A few bits of data here about % risk per trade.
Reminds me of the Law of Diminishing Returns. Which says something like the more you feed your garden the more vegetables you'll grow, until you get to a point where you poison them off and get nothing!
Taking the set of 40tp/40sl, which is easy. And starting from 1/1/2011, rolling up daily.
At 2% risk you'd be up by 20% by end of 16/5/2011
At 5% up by 50%
At 10% up by 90%
At 15% up by 99%
At 20% up by 74%
At 25% up by 25%
The optimum looks to be around 15% risk per trade. But a loss tomorrow would probably overthrow that result. Before the recent string of losses I would dare and say that the system would have worked best with a risk of 20% or more, but at the present rate this could decimate the account.
Better luck soon please FMT
If you have a slight addiction to backtesting, you might want to investigate the same pre-opening time with NY as we do in London - 6.15 and 6.30am NY time.